Wherrelz IT Solutions Ltd

Wherrelz IT Solutions Limited: Trading Window closed from October 1, 2026, until 48 hours after the declaration of the Company’s unaudited Financial Results for the Half year ending September 30, 2026.

EGM corrigendum and revised preferential issue terms

• Corrigendum-cum-Supplementary Notice updates EGM resolutions on the preferential issue of equity shares.
• Revised issue price fixed at ₹10.07 per equity share based on valuation report.
• Number of shares proposed reduced to 4,64,45,183 from 4,67,70,300.
• Aggregate consideration revised to ₹46,77,02,993.
• Consequential revisions filed with BSE for in-principle approval and related disclosures.
• Fresh e-voting window opens from 27 September to 29 September 2026.
• Scrutinizer for e-voting appointed: CS Mayuri Rupareliya.
• Voting rights will be reckoned under the Companies Act, 2013.
• Corrigendum supersedes previous April 24 and May 7 disclosures.
• Other terms of the proposed issue remain unchanged.

Financial Highlights

• Revenue from operations: 1,965.01 lakhs; total income: 1,965.93 lakhs.
• PAT: 22.37 lakhs; post-tax profit turned positive after prior loss.
• EPS (basic): Rs 5.74 per share.
• Cash flow from operations: 540.78 lakhs.
• Total assets: 4,584.95 lakhs; total liabilities: 5,314.71 lakhs; negative equity: 729.76 lakhs.
• Dividend not declared; SME listing continues; share capital unchanged at Rs 38.96 lakh.

Operations & Segments

• Domestic revenue: 1,965.01 lakhs; foreign revenue: nil.
• Segments: software development, digital marketing, OTT platform.
• Software development client base growing; OTT at early stage.
• Management notes risk management and growth initiatives planned.

Dividends & Capital Allocation

• Dividend for the year not declared; reserves unchanged.
• Share capital remained at Rs 38.96 lakh.

Capital Structure & Liquidity

• Short-term borrowings: 4,677.03 lakhs; cash and cash equivalents: 28.22 lakhs.
• Total liabilities: 5,314.71 lakhs; equity negative: -729.76 lakhs.

Governance & Audit

• Statutory Auditor: M/s B. B. Gusani & Associates; Secretarial Auditor: M/s M. Rupareliya & Associates.
• Audit: no qualifications; Secretarial Audit flagged governance lapses with penalties.
• SME listing exemptions apply; Corporate Governance reporting not fully applicable.
• Board meetings: four; Audit Committee meetings: four.

Risks & Outlook

• Risks include cyber security, supply chains, regulatory changes.
• Risk management framework in place; outlook positive with growth initiatives.
• Market volatility could affect demand; focus on productivity and cost reduction.

Corporate Background

• Incorporated 2014 as Wherrelz IT Solutions Private Limited; public since 2021.
• IPO and SME listing on BSE since December 2021.

Financial snapshot

• Income from operations: 1956.01 Lakh.
• Total revenue: 1965.93 Lakh.
• PAT: 22.37 Lakh (FY2025-26).
• EPS (Basic): 5.74 Rs.
• Dividend not declared due to net year loss.

Balance sheet highlights

• Equity capital: 38.96 Lakh; total equity: -729.76 Lakh.
• Retained earnings: -768.72 Lakh.
• Total assets: 4,584.95 Lakh.
• Short-term borrowings: 4,677.03 Lakh.
• Current liabilities: 5,314.71 Lakh; trade payables: 476.34 Lakh.

Cash flow

• CFO: 540.78 Lakh.
• Net cash change: decrease of 2.07 Lakh.
• Opening cash: 30.29 Lakh; closing: 28.22 Lakh.
• Capex minimal this year.

Dividend & capital management

• Dividend not declared.
• Share capital unchanged at 38.96 Lakh.
• Listed on BSE SME; no buybacks.

Governance & compliance

• Audit committee met 4 times; chair Uma Krishnan.
• Secretarial audit flagged governance lapses; minutes not maintained; SEBI fines cited.
• SME listing exempts full corporate governance.
• Directors' responsibility statement confirms going concern and internal controls.

Related party & risk

• Related party transactions arm's length; no significant conflicts.
• Risk management framework in place; major risks identified and mitigated.
• Independent directors declared independence.

Operations & outlook

• Outlook: positive, with domestic IT growth focus and cost reduction.
• Opportunities: broader client base; software and OTT products.
• Threats: cybersecurity and regulatory changes.

Subsidiaries & group

• No subsidiaries or JV.
• Group company Merrelz Corporation outside India; not disclosed.

AGM notice & regulatory

• 12th AGM on 30 Sep 2026; e-voting window 27-29 Sep 2026.

Transaction summary

• Target Company: WHERRELZ IT SOLUTIONS LIMITED.
• Disclosing party: Chaitanya Bharat Dhareshwar (Promoter) and Sumanlata Dhareshwar (Promoter group).
• Transaction Type: Sale/disposal of 64,000 equity shares.
• Pre-Transaction Holding: 64,000 shares, 16.43% voting rights; no encumbrances.
• Transaction Details: 64,000 shares sold through off-market sale (16.43% of total capital).
• Post-Transaction Holding: 0 shares; total holding becomes zero.
• Date of Transaction: 27 August 2026.
• Share Capital Context: Before/after: 389,600 equity shares; diluted capital: 389,600.

Transaction summary

• Target Company: WHERRELZ IT SOLUTIONS LIMITED.
• Disclosing Party: Sumanlata Dhareshwar (Promoter) and PAC Chaitanya Bharat Dhareshwar (Promoter group).
• Transaction Type: Sale of equity shares in open market.
• Pre-Transaction Holding: A: 8,000 shares (2.06%), B: 64,000 shares (16.45%).
• Transaction Details: Sold 8,000 equity shares (2.06%). Open Market Sale on 21 August 2026.
• Post-Transaction Holding: A: 0 shares (0%), B: 64,000 shares (16.45%).
• Date of Transaction: 21 August 2026.
• Share Capital Context: Before/after 389,000 equity shares; no change.
• Total diluted share capital: Not Applicable.

Open market sale by promoter

• Target Company: Wherrelz IT Solutions Limited.
• Disclosing Party: Sumanlata Dhareshwar and Chaitanya Bharat Dhareshwar, Promoter group.
• Transaction Type: Sale of equity shares in open market.
• Pre-transaction holding: 16,000 (4.11%) and 64,000 (16.45%), total 80,000 (20.57%).
• Sale details: 8,000 equity shares sold, 2.06%, open market, 19 August 2026.
• Post-transaction holding: 8,000 shares (2.06%).
• Share capital context: before/after 389,000 shares; diluted capital Not Applicable.

Transaction details

• Target: WHERRELZ IT SOLUTIONS LIMITED, listed on BSE.
• Disclosing party: Sumanlata Dhareshwar and Chaitanya Bharat Dhareshwar; promoter group.
• Transaction type: Sale of 8,000 equity shares via open market.
• Pre-transaction voting-rights: 8,000 (2.05%) Acquirer A-i; 64,000 (16.43%) PAC B-ii.
• Total pre-transaction shares: 72,000 (18.48% diluted).
• Shares sold: 8,000 equity shares, 2.05%.
• Mode of sale: Open Market sale.
• Date of sale: 21 August 2026.
• Pre-transaction capital: 389,000 equity shares at Rs 10 each.
• Post-transaction capital: 389,600 equity shares at Rs 10 each.
• Total diluted post-transaction capital: 389,600.
• Post-transaction voting-rights: 0; encumbered with acquirer: 64,000 (16.43%).

Transaction summary

• Target Company is WHERRELZ IT SOLUTIONS LIMITED.
• Disclosing Party: Sumanlata Dhareshwar (Acquirer) and Chaitanya Bharat Dhareshwar (PAC), promoter group.
• Transaction Type: Acquisition of equity shares via conversion of warrants in a preferential issue.
• Pre-Transaction Holding: Voting rights 16,000 shares (4.11%); diluted capital 64,000 shares (16.43%).
• Transaction Details: 80,000 shares acquired; 20.53% of total share/voting capital; mode Open Market.
• Post-Transaction Holding: Total voting rights 72,000; diluted capital 3,89,600 shares; 18.48%.
• Date of Transaction: 21 August 2026.
• Share Capital Context: Before 16,000 shares; after 8,000 shares; total diluted capital 3,89,600.

Dematerialisation/rematerialisation status

• No dematerialisation/rematerialisation requests were received during the quarter.
• Regulation 74(5) not applicable as all shares are in demat form.